Kyle Lowry Traded to Raptors

In return the Raptors sent forward Gary Forbes and a protected first round pick to the Rockets.

"We feel we've added a solid starting caliber point guard to our team," Raptors general manager Bryan Colangelo said in a conference call. "He will bring toughness and grit and playmaking at a very important position obviously, the point guard position."

The 26-year-old Lowry has played six seasons in the NBA. He averaged 14.3 points and 6.6 assists a game last season.

He joins a team who already has an established point guard in Jose Calderon. With the addition of Lowry, Calderon may be the odd man out.

"We're thrilled to have him as part of the team," Colangelo said when referring to Calderon. "If it becomes a situation where there's an opportunity for us to get better and Jose is part of a transaction obviously we've said it very clearly, nobody on the team is untradeable."